Discover the best time to cold call real estate prospects that results in sales.
The real estate industry can feel like a roller coaster. From hot markets to buyer’s markets to housing bubbles to interest rates, there’s no shortage of ups and downs. One thing’s for sure, though. There’s always a lot of competition, and anything that can give you an edge, like determining the best time to cold call real estate prospects, can pay off in multiples.
You certainly have more than a few ways to market yourself or your company. Mailers and ads in local magazines are popular and have their place. The problem is that you’re competing with every other realty company around when you show up in somebody’s mailbox. If you want to stand out, it’s time to take the next step: pick up the phone and call your prospects.
Whether you’re looking for residential sellers or buyers or you’re working in commercial property, a friendly phone call can work wonders in helping you drum up business now or in the future. However, you want to be strategic in your calling.
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The best time to cold call real estate prospects (and other tips that can help you make sales)
Like anything in real estate marketing, you want to be strategic in your cold calling. You want to be efficient and effective. That means you need to decide who your audience is, hone in on your pitch, and determine the best time to cold call real estate prospects.
Let’s start with your audience. You could have several to choose from: home buyers, home sellers, commercial property owners, and businesses looking to move or expand into a new space. Where do these people come from? One place to look is your email and contact list. Who has signed up for your newsletter? Who has requested more information through your website? And who have you worked with in the past that may be ready to downsize or upgrade?
You can also look at current listings. Anyone with a property that’s been on the market for some time may be open to a new realtor. Properties for sale or rent by owners may also be prime opportunities, especially if they aren’t having any luck on their own. Don’t be afraid to contact developers, either. While most may already have a preferred realtor that they work with, it never hurts to explore.
Second, have your script ready. Since you’re in real estate, the details may change frequently, but a solid outline can go a long way in ensuring you remain succinct in getting the information to a potential client. And, of course, customize them, so you have one script that appeals to home buyers, another written for commercial real estate building owners, and so on.
Now then, what is the best time to cold call real estate prospects? Multiple sources suggest calling around lunch or just before the workday is over are the two best times to make cold calls. There are also a number of sources that indicate calling on Tuesdays and Wednesdays are the best days for calling. That gives you about six hours: from 11 am to 1 pm and again from 4 pm to 5 pm two days per week. There are a few caveats here, though.
You know your area, your clients, and your potential clients better than anyone. Perhaps you live in a community renowned for long, lazy lunches where business talk is a faux pas. Maybe your clients love to get an early start so they can leave work early. The point is that the best time to cold call real estate prospects may very well be those lunchtime or late afternoon hours. But don’t underestimate your local knowledge.
Another thing to bear in mind is that, while you do need to schedule time for phone calls, you also need to work with your schedule. If you’re showing a lot of homes or already meeting prospective clients during lunch, you don’t want to ignore that.
Lastly, don’t forget that any company making sales calls needs to abide by specific regulations, such as the Telephone Consumer Protection Act (TCPA). You also need to avoid making calls to numbers on the National Do Not Call list (DNC list).
Remember, too, that as a realtor, you’re already a pro at customer service. You’re personable, professional, and you have something to offer. There are plenty of good reasons people would want to talk with you. Now go make some calls!
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